#TradeWarEases China and the USA agreed to reduce tariffs on each other's goods for 90 days, marking a temporary respite in the trade war that threatens to trigger a global recession and deepen the growing divide between the two largest economies in the world.

Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer stated at a press conference in Geneva on Monday that US tariffs on Chinese goods would be reduced from 145% to 30%. China announced that starting Wednesday, it would cut its overall tariffs from 125% to 10%.